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Dec 26, 2012
12/12
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. >> he gets to cut the military and he gets to blame republicans for it. >> also if congress does not reach a deal by monday as many as 500 million taxpayers will not be able to file until march and i can explain why when i see you next. tile la campbell -- kyle la calm about a ktvu channel 2 morning news. >>> they are asking all workers from d.c. washington area stores to coliseum together and he said he wants to send a respectful but potent issue. we have more times with the same message. >>> the u.s. base was the target of a suicide attack in afghanistan. a car bomb went off at the gates of camp chapman. the blast skilled a delivery guard and 6 children. the taliban is claiming responsibility. >>> more than 10 people people voted to support it but more than two-thirds voted not to have it but some say it passed too quickly. it protects some rights but underminds others. >>> now that voters have approved higher taxes for education, governor brown wants to overall the state funning and at least low income mine 40 district. crews in the north bay are looking into the cause of a midway
. >> he gets to cut the military and he gets to blame republicans for it. >> also if congress does not reach a deal by monday as many as 500 million taxpayers will not be able to file until march and i can explain why when i see you next. tile la campbell -- kyle la calm about a ktvu channel 2 morning news. >>> they are asking all workers from d.c. washington area stores to coliseum together and he said he wants to send a respectful but potent issue. we have more times with...
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Jan 1, 2013
01/13
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KCSMMHZ
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a decision on spending cuts has been delayed until march. stock markets begin the new year on wednesday when washington will find out what wall street thinks of congress' last ditch compromise. >> we will talk more about this latest deal. for that i am joined by our business correspondent. as we heard hard fought compromise in the senate at least but not everybody seems to be too satisfied. >> it is a compromise. both sides had to withdraw from their original positions. democrats wanted to raise taxes for yearly family incomes starting at $25,000. now it has been pushed to $450,000. if you look at the republicans they preferred to not raise any taxes at all. that idea did not succeed at all. but there is a feeling of relief that the deal has been reached. you have to keep in mind the compromise needs to pass the house of representatives with the republican majority. >> if it does pass will it be effective and solve the budget problem in the united states? >> no. major issues have not been addressed so far. if you look at the questions of aut
a decision on spending cuts has been delayed until march. stock markets begin the new year on wednesday when washington will find out what wall street thinks of congress' last ditch compromise. >> we will talk more about this latest deal. for that i am joined by our business correspondent. as we heard hard fought compromise in the senate at least but not everybody seems to be too satisfied. >> it is a compromise. both sides had to withdraw from their original positions. democrats...
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aides say boehner decided the house could not demand fiscal cliff spending cuts and vote on the same day, to spend billions in disaster relief. but boehner promised the new congress will vote on sandy help starting tomorrow. >> it was extremely positive meeting. >> reporter: but more proof that in this political environment, every kind of issue can veer off into another crisis. >> the country is fractured. conservatives and liberals, republicans, democrats, have very different views of how to deal with issues of taxes and spending and entitlements. that's not going away. >> that was kelly o'donnell reporting. and ceremonies are happening right now in the district to welcome the 113th congress. the morning started with a prayer service at st. peter's catholic church in the southeast. a number of lawmakers responded making their way inside the church now under renovation. the service was a bipartisan event shortly after the congressional black caucus hosted a ceremonial swearing-in for its 42 new members inside the congressional auditorium. house democratic leader, nancy pelosi spoke a
aides say boehner decided the house could not demand fiscal cliff spending cuts and vote on the same day, to spend billions in disaster relief. but boehner promised the new congress will vote on sandy help starting tomorrow. >> it was extremely positive meeting. >> reporter: but more proof that in this political environment, every kind of issue can veer off into another crisis. >> the country is fractured. conservatives and liberals, republicans, democrats, have very different...
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Dec 27, 2012
12/12
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FBC
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he cut short his hawaiian vacation. oil prices jumping nearly 3% since christmas time as fiscal cliff worries shake the commodities market. joining us now president of lipow associates. >> i think it is waiting on congress to do something. in the meantime, we have seen the dollar weakened against the euro. liz: we have gas around $3.25. what if we go over the fiscal cliff? >> if that is the case, i see us going down to about $2.10. liz: if we go to $82 a barrel, what will the forecast before june and july? in the past, the nation has gone through some kind of panic attack expecting five dollars for a gallon of gas. >> i do not see five dollars at all next year. i do not even see four dollars. i expect $3.75 to be the height of the peak. what i expect is nothing will happen until the new year when both congress and the president come back. they enact new tax cuts. neither side is interested in any sort of significant spending cuts. liz: where do you see oil and gas prices in that scenario? >> well, in that scenario, i th
he cut short his hawaiian vacation. oil prices jumping nearly 3% since christmas time as fiscal cliff worries shake the commodities market. joining us now president of lipow associates. >> i think it is waiting on congress to do something. in the meantime, we have seen the dollar weakened against the euro. liz: we have gas around $3.25. what if we go over the fiscal cliff? >> if that is the case, i see us going down to about $2.10. liz: if we go to $82 a barrel, what will the...
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Dec 29, 2012
12/12
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KRON
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congress should allow a vote on a basic package that would preserve tax cuts for middle-class americans, >> i am optimistic that we can still pass a deal in both houses in time, mitch mcconnell, and harry reid are working on an agreement as we speak >> i have my confidence destroyed on other occasions and so i hope it is not on this occasion the timing, we have to do it now that is what the next 24 hours will be very important. >> we had a good meeting in the white house we are engaged in discussions with the majority, the leader and myself in hopes that we can come forward as early as sunday and have a recommendation that i can make to my conference and the majority leader can make to his conference. we will make hard so this will be able to work in the next 24 hours. i am hopeful and optimistic. >> senate leaders want to reach a compromise on the senate, just what the four hours before the deadline. despite this, it sent stocks sliding. >> michael, we have been hearing this same song and dance for weeks. what do you think? " >> i do not know if they are going to do it or not. if you t
congress should allow a vote on a basic package that would preserve tax cuts for middle-class americans, >> i am optimistic that we can still pass a deal in both houses in time, mitch mcconnell, and harry reid are working on an agreement as we speak >> i have my confidence destroyed on other occasions and so i hope it is not on this occasion the timing, we have to do it now that is what the next 24 hours will be very important. >> we had a good meeting in the white house we...
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Dec 27, 2012
12/12
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the house has issued legislation that would extend the tax cuts and erase the military cuts. but something else that came up, secretary geithner issued a letter today warning the country that we are going to hit the debt ceiling on new year's eve. congress needs to wake up and smell the cau tee that the spending needs to be addressed. >> so david, hard to believe that we are still talking about this. did you see it happening like this? >> is washington so pro den that they can't find a compromise. >> i think the country will get back on track, but it is going to take a prwhile. damage has been down. business plans are down. business sentiment is down. we are are going to pay a price. the senate hasn't acted or called back to act on a bill between christmas and new year's for 49 years. i think the prospects are strong that we are going to go over the cliff. the republicans are going to clearly get most of the blame if we go over the cliff on taxes but the republicans have an argument. the president promised us. he would put on the table spending decreases. when you look at the
the house has issued legislation that would extend the tax cuts and erase the military cuts. but something else that came up, secretary geithner issued a letter today warning the country that we are going to hit the debt ceiling on new year's eve. congress needs to wake up and smell the cau tee that the spending needs to be addressed. >> so david, hard to believe that we are still talking about this. did you see it happening like this? >> is washington so pro den that they can't...
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Dec 31, 2012
12/12
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WUSA
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congress has come to an agreement on one issue. leaders of both parties announced sunday they have reached a deal to extend the 2008 farm bill for at least one more year. without a deal the agriculture secretary says americans would have been force today pay as much as $7 if a gallon of milk. but again, that has been averted. >>> we are watching your money. i know you are sick of hearing it but over the next few days the words fiscal cliff, you are not going to be able to avoid them. whether or not you think congress can pull off some sort of a compromise, one thing you need to be prepared for. for many of you, your paycheck will go down in the new year and here's why. the payroll tax was cut by 2 percentage points over the last two years. experts are saying that tax holiday is coming to an end. the center on policy and budget priorities says it is about $100 billion. goldman sachs says ending the tax holiday would shave percentage points off economic growth next year, not predicted that strong anyway. let's say you make $50,000 a
congress has come to an agreement on one issue. leaders of both parties announced sunday they have reached a deal to extend the 2008 farm bill for at least one more year. without a deal the agriculture secretary says americans would have been force today pay as much as $7 if a gallon of milk. but again, that has been averted. >>> we are watching your money. i know you are sick of hearing it but over the next few days the words fiscal cliff, you are not going to be able to avoid them....
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Dec 31, 2012
12/12
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FBC
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so close to seeing all those tax cuts go away. a completely ridiculous congress inflicted wound on the economy that is very difficult to square with reality. certainly i understand that retroactively they can do a lot to restore a lot of the damaged, but we are so close to the purposes -- press the does, it makes no sense. cheryl: last and final question. i know this is tough to answer, but we have had some really good things happen. the recovery, calling it a recovery, the fed that has been more than generous and throwing money into the system. kendis economy recover? -p>> it can, if congress acts relatively quickly. but if we, you know, go past tonight, what are the prospects that we are going to see a deal in two weeks? we have had the better part of the year talking about this. if we could not get it done by now more of the prospects of doing something positive in the next couple of weeks? if we go past today i'm not sure that the odds are very good. so i'm still ootimistic, but i am starting to get a little concerned. cheryl:
so close to seeing all those tax cuts go away. a completely ridiculous congress inflicted wound on the economy that is very difficult to square with reality. certainly i understand that retroactively they can do a lot to restore a lot of the damaged, but we are so close to the purposes -- press the does, it makes no sense. cheryl: last and final question. i know this is tough to answer, but we have had some really good things happen. the recovery, calling it a recovery, the fed that has been...
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Jan 2, 2013
01/13
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MSNBCW
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that really would have been both a legislative and -- because of the mechanics, a new congress being sworn in on thursday. but 236, now, i'm going to say we could probably declare this bill passed. >> all right, 217 here luke you know you have to feel quite gratified, too, you have been there all day in the capitol, watching the members. and is there really a difference in the mood here we have spoken to members. democrats seem to be quite excited at this vote. they have been asking for it to come to the floor. is it very different on the other side? >> well before i get to that i think something i should point out. you see there are about 81 republican votes right now. this is technically a violation of the
that really would have been both a legislative and -- because of the mechanics, a new congress being sworn in on thursday. but 236, now, i'm going to say we could probably declare this bill passed. >> all right, 217 here luke you know you have to feel quite gratified, too, you have been there all day in the capitol, watching the members. and is there really a difference in the mood here we have spoken to members. democrats seem to be quite excited at this vote. they have been asking for...
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Jan 1, 2013
01/13
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CSPAN
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keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a scalpel. it may not always be the smartest cuts. that is a piece of business that still has to be taken care of. i want to make clear that any agreement we have to deal with these automatic spending cuts, those also have to be balanced. my principle has always been to do things in a balanced, responsible way and that means revenues as to be part of the equation in turning off the sequester as well as spending cuts. the same is true for any future deficit agreement. we will have to do more to reduce our debt and deficit. i am willing to do more but it will have to be balanced. we will have to do it in a responsible way. i am willing to reduce our government's medicare bills by finding new ways to reduce the costs of health care in this country. that is something which all agree on. we want to make sure tha
keep in mind that some of these spending cuts that congress has said will automatically go into effect have an impact on our defense department but that also have an impact on things like head start. there are some programs that are scheduled to be cut. we are using an ax instead of a scalpel. it may not always be the smartest cuts. that is a piece of business that still has to be taken care of. i want to make clear that any agreement we have to deal with these automatic spending cuts, those...
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Dec 27, 2012
12/12
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KPIX
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obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include letting the bush tax cuts expire for households making more than $250,000 a year and short term spending cuts instead of the massive long-term cuts that would happen if there is no deal. after our wednesday conference call, house republican leaders issued a statement saying they were waiting for the democratic controlled senate. the house will take this action on whatever the senate can pass they said but the senate first must act. in a sign of public frustration over the lack of a deal the coffee giant starbucks is asking employees in approximately 120 washington area cafes to write the words "come together" on cups for drink orders. >> we just wanted to have a subtle message of coming together and everyo
obama wants congress to take the lead in getting the job done. the senate convenes later today and senate majority leader harry reid told members to be prepared to address fiscal cliff issues through the weekend. reid is working on his own plan to get lawmakers to come together before the end of the year deadline. that plan would likely include letting the bush tax cuts expire for households making more than $250,000 a year and short term spending cuts instead of the massive long-term cuts that...
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Dec 30, 2012
12/12
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MSNBCW
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which means unless congress acts in the next 48 hours the bush tax cuts will expire along with federal unemployment insurance and a broad package of the spending cuts including defense spending will take effect. do weeks of fruitless negotiations and john boehner and senate leader are working on a deal this morning to avoid the fiscal cliff, or as chris hayes and i call it, the fiscal curve. the deadline is soft. it's not like every american is going to be handed a bill on january 1st and there's way to manage the damage if the country goes over. the senate is set to convene this afternoon with the house to follow tonight. there's a chance that a compromise will be reached, less than 48 hours before tax rates revert to their clinton dasher are levels and board across the board spending cuts talk effect. when the president took to the podium friday afternoon to urge the law enforcements to get their act together with he didn't exactly project confidence. >> this is deja vu all over again. america wonders why it is that in this town for some reason, you can't get stuff done in an organiz
which means unless congress acts in the next 48 hours the bush tax cuts will expire along with federal unemployment insurance and a broad package of the spending cuts including defense spending will take effect. do weeks of fruitless negotiations and john boehner and senate leader are working on a deal this morning to avoid the fiscal cliff, or as chris hayes and i call it, the fiscal curve. the deadline is soft. it's not like every american is going to be handed a bill on january 1st and...
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Jan 3, 2013
01/13
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LINKTV
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congress approved a deal that averted the threat of another recession. that is until the more crucial deadline arrives in less than two months when the debt limit will need to be increased. >> hopefully will focus on saying if we can put a package like this together. with less trauma and less brinksmanship. and not scare the heck out of coke's sprite as much. this includes major tax increases affecting three in four households. the head to the pocketbooks is to not to hikes in income-tax rates but the end of a 2-year- long payroll tax holiday. >> i have not decided how much is going to impact me. i do not think others will be happy about it. they are more likely middle- class and that will be more money out of their pockets. >> wage earners making up to $30,000 will pay $300 a year extra. $822 for households making up to $75,000. 1700 for those earning up to $200,000.2700 on the income of half a million dollars. the big hits will be felt by the topmost earners whose income tax rates rise. millionaires will pay $170,000 more. hanging messiness has frustra
congress approved a deal that averted the threat of another recession. that is until the more crucial deadline arrives in less than two months when the debt limit will need to be increased. >> hopefully will focus on saying if we can put a package like this together. with less trauma and less brinksmanship. and not scare the heck out of coke's sprite as much. this includes major tax increases affecting three in four households. the head to the pocketbooks is to not to hikes in income-tax...
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Dec 28, 2012
12/12
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CSPAN
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they are now on the cutting edge of tomorrow's air force. it is important congress has its voice heard. i did not presume to know we were right. i did know there had to be some alternative evidence. we had a chance to look closely to america -- area of vehicles. >> we could probably offer some examples from the other direction, so let me understand how does the public get best served with the competing forces that all want their program to continue? >> it is a big part of our job. it is an appropriators responsibility to be involved in that fight. i must say it comes to mind that one of the first projects i was ever involved in, a young person dropped a ping-pong ball on his back window during the 1938 flood. the ball hit the water and floated outcom the back fence. and earmarked back here that led for the project the shores -- led to the project, that sort of work is very important. >> for a young congressman and women coming in with the freshman class, what was your own pathway to the chairman of gaffle, and could you offer them and vice -
they are now on the cutting edge of tomorrow's air force. it is important congress has its voice heard. i did not presume to know we were right. i did know there had to be some alternative evidence. we had a chance to look closely to america -- area of vehicles. >> we could probably offer some examples from the other direction, so let me understand how does the public get best served with the competing forces that all want their program to continue? >> it is a big part of our job....
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Jan 2, 2013
01/13
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tax cuts pay for themselves. we don't have to worry about them. we will be welcome as liberators in iraq. we weren't. government regulated or run health care doesn't work. half of the people in this country get medicare and medicaid and va health care and one form or another. the best of them all, science is not proven. you hear those things and you just can't believe that in this case the republicans are believing what they say. this creates a wall of distrust and frustration that spills over. on the republican side, they listened to what democrats are saying and think the democrats are not necessarily trying to strengthen the economy by inv t investing in education and pandering to the voter. you get the clash of world views that is a major factor and probably the primary factor in congressional gridlock. >> sort of picking up on the point, there was an interesting piece a few weeks ago. he analyzed the election results and said there were two parallel americas that have taken place. the democrats of young voters and they are clustered tightly i
tax cuts pay for themselves. we don't have to worry about them. we will be welcome as liberators in iraq. we weren't. government regulated or run health care doesn't work. half of the people in this country get medicare and medicaid and va health care and one form or another. the best of them all, science is not proven. you hear those things and you just can't believe that in this case the republicans are believing what they say. this creates a wall of distrust and frustration that spills over....
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Dec 30, 2012
12/12
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FOXNEWSW
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is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of the region and really the rest of the country are recovering from the winter storm that hit earlier in the week. this new round of weather bringing even more snow, freezing rain and strong winds already causing some flight delays and making the roads dangerous. meteorologist justin povik with the accu-weather. justin? >> harris, i tell you, we cannot catch a break across the northeast and the nation's midsection. not to leave out the west coast. they have been stormy and wet, especially around san francisco. the meat of the storm system has been targeting the ohio valley and the northeast, and the latest is doing its dirty work across the coastal sections. the i-95 corridor. the worst of the worst we will target boston over the course of the next three to four hours approaching an inch an hour. snow totals across the interior no
is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of the region and really the rest of the country are recovering from the winter storm that hit earlier in the week. this new round of weather bringing even more snow, freezing rain and strong winds already causing some flight delays and making the roads dangerous. meteorologist...
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ceiling and fighting about spending cuts. that will cause a lot of uncertainty and concern on consumers behalf. and so right now i know that i'm sitting on the sidelines waiting before i hire. i know i have franchises, fastsigns franchises are waiting to see what happens in the next 60 and 90 days. there is a lot of uncertainty regarding that part of the equation. melissa: scott, are you out there as an investor, are you out there looking for companies that are say i know it is a tough climate out there but i will take to my advantage, use to my advantage the fact that other ceos are sittings on the sidelines and are timid and i will steal their market share? i will eat their lunch while everyone is sitting on their hands worried and i will get it done? are there companies out there? they are out there. we have cap alism. that is the root cause of it. to bart's point, technology is certainly an area you will see companies capitalize. i love the word uncertainty here. you're right, melissa, people are afraid how bad thing real
ceiling and fighting about spending cuts. that will cause a lot of uncertainty and concern on consumers behalf. and so right now i know that i'm sitting on the sidelines waiting before i hire. i know i have franchises, fastsigns franchises are waiting to see what happens in the next 60 and 90 days. there is a lot of uncertainty regarding that part of the equation. melissa: scott, are you out there as an investor, are you out there looking for companies that are say i know it is a tough climate...
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you are dear smart viewers i'm sure already know about the deal congress reached then that it leaves lawmakers wrangling again in a couple months over the debt ceiling and the spending cuts that they delayed but when it comes to the reported six hundred billion dollars over ten years in new revenue this deal is said to raise never mind the new deficit that creates what does that kind of money by any way we have a reality check plus why is the government involved in keeping the price of milk was no part of the fiscal cliff deal involved of burning what some have dubbed a dairy cliff we'll discuss and wall wrong cliffs we have five phrases we'd like to retire this year that's the loose change let's get to today's capital account. so the fiscal cliff has been averted kind of by a deal that pushes more wrangling into this you buy a few months so i'll save you the play by play of the twenty four hour cable network news that we are hearing and will continue to hear for at least the next few months let's move on to something actually interesting though for the most part it is a new year tim
you are dear smart viewers i'm sure already know about the deal congress reached then that it leaves lawmakers wrangling again in a couple months over the debt ceiling and the spending cuts that they delayed but when it comes to the reported six hundred billion dollars over ten years in new revenue this deal is said to raise never mind the new deficit that creates what does that kind of money by any way we have a reality check plus why is the government involved in keeping the price of milk was...
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Dec 31, 2012
12/12
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WRC
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then lawmakers could claim they voted to cut middle class taxes. i'm steve handlesman, news4, capitol hill. >> if nothing else, it looks like there will be a deal to keep the price of milk from skyrocketing. leaders have agreed to a one-year ex-tense of the 2008 farm bill that expired in october. the deal will avert a spike in milk prices to as much as $8 a gallon. but it has to come to a vote in the house and senate tomorrow. a new report tonight further criticizes the state department for its response to the u.s. consulate attack in libya. nbc news s obtained an advance copy of the investigation. in it, it concludes that bad security allowed militants to walk right into the compound. the report criticizes the state department for failing to sufficiently respond to requests for additional security. the full report will be released tomorrow. >>> gusty winds made for a very chilly day here in washington, and they also caused some damage. winds were strong enough to knock over this tree on split oak drive in bethesda. things have calmed down after th
then lawmakers could claim they voted to cut middle class taxes. i'm steve handlesman, news4, capitol hill. >> if nothing else, it looks like there will be a deal to keep the price of milk from skyrocketing. leaders have agreed to a one-year ex-tense of the 2008 farm bill that expired in october. the deal will avert a spike in milk prices to as much as $8 a gallon. but it has to come to a vote in the house and senate tomorrow. a new report tonight further criticizes the state department...
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Dec 26, 2012
12/12
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WMAR
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congress will also return from its holiday break. >>> you'll see great deals today at the stores. preholiday sales were disappointing this year. so, now, many retailers are stuck with the inventory they need to clear out. >>> and looking at today's weather. rain along the west coast. snow in the mountains. cold in the center of the nation is, with blizzard warnings in seven states. heavy rain in the northeast. >>> and finally, the most unlikely of christmas gifts. and we know this one isn't being returned today. that's simply because it's the family's dog. >> this is such a heartwarming story. it was stolen from a street in new york city. now, thanks to good samaritans the dog is back home. andy seal of wabc reports. >> oh, yes. >> reporter: angie estrada and her daughter, mia, never thought they would see their dog, marley, again. >> he's so fluffy. and he's so adorabldorable. i can't trim the tree without him. it's hard to be without him. >> reporter: marley, last seen being dog-napped outside of larosa foods. the thief unleashed him and left. the next day, a good samaritan ran
congress will also return from its holiday break. >>> you'll see great deals today at the stores. preholiday sales were disappointing this year. so, now, many retailers are stuck with the inventory they need to clear out. >>> and looking at today's weather. rain along the west coast. snow in the mountains. cold in the center of the nation is, with blizzard warnings in seven states. heavy rain in the northeast. >>> and finally, the most unlikely of christmas gifts. and...
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Dec 30, 2012
12/12
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FBC
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the last thing we want to see is a we-need congress and a weak-willed president patting themselves on the back because they have some watered down deal. i think they need to feel some ain, i think they need to see he the implication in the markets, in the ecomy, so, yes, i think no deal right now is better than a bad deal. >> okay, gary b, jim mentioned the market, let me play wall street on tv. basically i'm sick of this. 'm going to keep heading south because the uncertainty, the anxiety is killing me. if we had any kind of deal, at least we might see stocks move up a bit. that wld be good for our 401(k)'s, wouldn't it? >> that's exactly my perspective, brenda. this was a really rough week on the market and it's all related to, n the-- not the fiscal cliff, it's the psychology of the fisl cliff, and the sad truth is whether they do a deal now or they thoughtfully do a deal six months from now, really, nothing will be accomplished. the fact is, public debt is consuming our economy. it's about 73%, regardles o what deal gets done. it will be about 73, 74% ten years from now. we've don
the last thing we want to see is a we-need congress and a weak-willed president patting themselves on the back because they have some watered down deal. i think they need to feel some ain, i think they need to see he the implication in the markets, in the ecomy, so, yes, i think no deal right now is better than a bad deal. >> okay, gary b, jim mentioned the market, let me play wall street on tv. basically i'm sick of this. 'm going to keep heading south because the uncertainty, the...
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Dec 30, 2012
12/12
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FOXNEWSW
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they want to see more cuts in spending right now. >> arthel: thank you very much. >> gregg: congress is not only facing a fiscal cliff, it's up a dairy clarify, if you will. the current farm bill is set to expire on new year's day. if an extension of that is not passed, the farm policies would revert to laws back to 1949 and cost of milk, that could skyrocket. back then the government used a formula to calculate dairy prices that is much more expensive than it is today. one option said to be on the table is short term extension that would prevent milk prices from rising. >> arthel: to other stories. a judge ordering a psychiatric evaluation for a woman suspected of shoving a man off a new york public is way platform. he was arraigned last night on murder and hate crime. she confessed to pushing a man in front of a moving train telling them, i hindus and muslims. co-worker was was behind due. >> gregg: two missing boys from georgia have been found in texas an amber alert was issued, ages nine and seven when they didn't come back from a visit from their dad on wednesday. somebody recog
they want to see more cuts in spending right now. >> arthel: thank you very much. >> gregg: congress is not only facing a fiscal cliff, it's up a dairy clarify, if you will. the current farm bill is set to expire on new year's day. if an extension of that is not passed, the farm policies would revert to laws back to 1949 and cost of milk, that could skyrocket. back then the government used a formula to calculate dairy prices that is much more expensive than it is today. one option...
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Dec 31, 2012
12/12
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but we're hopeful that congress can get it done. it is not done. and so, part of the reason that i wanted to speak to all of you here today is to make sure that we emphasize, to congress, and that members of both parties understand that all across america this is a pressing concern on people's minds. >> reporter: again, on the issue of tax increases and who constitutes the wealthiest of americans. the president was originally pitching a threshold of $250,000 a year in income. republicans wanted to see that as high as one million dollars. the deadline is midnight eastern time. keep in mind, even if congress misses that deadline they can put off the tax increases or refund them retroactively. katie marzullo, abc7 news. >>> a lot of us worried about our wallets. one item that won't fall off the cliff is milk. committees agreed to one year extension of the farm bill. committee approval is a good indication the full congress will follow even though the bill hasn't reached the floor. if the extension is not ok'd, the price of milk could double by next mo
but we're hopeful that congress can get it done. it is not done. and so, part of the reason that i wanted to speak to all of you here today is to make sure that we emphasize, to congress, and that members of both parties understand that all across america this is a pressing concern on people's minds. >> reporter: again, on the issue of tax increases and who constitutes the wealthiest of americans. the president was originally pitching a threshold of $250,000 a year in income. republicans...
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Dec 26, 2012
12/12
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WBAL
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. >> president obama is cutting his vacation short. hallie jackson is live with the latest. it is not just the president returning tomorrow. >> congress is heading backed to washington tomorrow. any plan may come down to the wire. president obama spent part of his christmas greeting troops in hawaii. tonight he leaves for washington and a state of gridlock as lawmakers struggle to come to a compromise. members of the house and senate are heading back to capitol hill tomorrow. >> everybody can pull off and drink some eggnog and have some christmas cookies. >> and return to washington after john boehner failed to get enough support for a plan b that would raise taxes on those making more than a million dollars a year. >> it begin to address our nation's crippling debt. >> with the january 1 deadline quickly approaching, some are worried we could fall off. >> it would be the most colossal act of congressional irresponsibility in a long time if that happens. >> some strong words from senator lieberman. the president is expected to arrive tomorrow morning. >> how promising does i
. >> president obama is cutting his vacation short. hallie jackson is live with the latest. it is not just the president returning tomorrow. >> congress is heading backed to washington tomorrow. any plan may come down to the wire. president obama spent part of his christmas greeting troops in hawaii. tonight he leaves for washington and a state of gridlock as lawmakers struggle to come to a compromise. members of the house and senate are heading back to capitol hill tomorrow....
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Dec 27, 2012
12/12
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KRON
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and the new year. >> taxes go up if congress does not act. >> former president a w. bush sr. is in intensive care is in hospital this morning. >> mr. bush's been hospitalized there since last month with what is being described as a stubborn fever. >> a spokesman for the office said that the 88 year-old is on all it would buy it has been and i see you sunday. >> thank you are a this is a view of the san mateo bridgeu.. upper '40's and napa as was richmond. sunnyvale at 46 degrees. as we head into the afternoon hours mostly low 50s. 50 in daly city pier 52 in san mateo. >> mid-50s for several, oakland, a vallejo. getting to about 54. 53 degrees for sunnyvale this afternoon. >> let us take a look at satellite and radar for high-pressure in place. we're a dry today however we do have wet weather in store for us pushing in tomorrow morning. >> friday 4:00 a.m. it will be cloudy and that hour. as is set the clock ahead to 1:00 p.m. scattered showers from the north bay as well as coastal areas. >> about 5:00 we are expected moderate downpour from xanthus go to san rafeal. t
and the new year. >> taxes go up if congress does not act. >> former president a w. bush sr. is in intensive care is in hospital this morning. >> mr. bush's been hospitalized there since last month with what is being described as a stubborn fever. >> a spokesman for the office said that the 88 year-old is on all it would buy it has been and i see you sunday. >> thank you are a this is a view of the san mateo bridgeu.. upper '40's and napa as was richmond. sunnyvale...
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Dec 28, 2012
12/12
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to put forth a package that would extend bush era tax cuts for those making $250,000 or less, extend unemployment insurance benefits, as well as stave off some of those deep spending cuts that are set to go into effect. the president is going to make the argument that he believes this can pass through both houses, but, of course, there is a big question mark over that. i have been speaking with republican aides on the hill who say house republicans are really waiting to see what the senate does at this juncture before they weigh in on anything that the president might say during today's meeting. but, of course, we will have to wait and see what actually happens. we're hoping the congressional leaders will talk to us and we'll have more information about what happened. >> it seems the political dynamics essentially in this meeting are -- he's not putting anything new on the table. he's saying here is the deal, what can you deliver? at this point it really comes down to mcconnell and boehner and what they think they can deliver, and based on what boehner can deliver, i think the other
to put forth a package that would extend bush era tax cuts for those making $250,000 or less, extend unemployment insurance benefits, as well as stave off some of those deep spending cuts that are set to go into effect. the president is going to make the argument that he believes this can pass through both houses, but, of course, there is a big question mark over that. i have been speaking with republican aides on the hill who say house republicans are really waiting to see what the senate does...
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Dec 29, 2012
12/12
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let's talk to a member of congress about that. james langford serves in the house budget committee and he joins me now. sir, have you conceded you're not getting spending cuts are you voting on raises taxes on people who make over $250,000 come sunday or monday, whatever it is? >> sequestration is a debt ceiling deal from last year. we made a deal and the president and the house and the senate all signed off on it and said we would reduce $1.2 trillion. 120 billion a year and that's the minimum that has to be cut just to fulfill what we had agreed upon last year. the real issue here is spending. we're spending $1 trillion more a year than we were just five years ago. so you're not going fix it with a few tax increases. you have to fix it. >> are you optimistic that something will happen by monday based on what you've heard from the president tonight? >> this is a senate issue and it's optimistic that mcconnell and reid will be able to sit down and talk through and be able to find a proposal and reid has been able to cram this the
let's talk to a member of congress about that. james langford serves in the house budget committee and he joins me now. sir, have you conceded you're not getting spending cuts are you voting on raises taxes on people who make over $250,000 come sunday or monday, whatever it is? >> sequestration is a debt ceiling deal from last year. we made a deal and the president and the house and the senate all signed off on it and said we would reduce $1.2 trillion. 120 billion a year and that's the...
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Dec 30, 2012
12/12
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and the spending cuts that are set to kick in on januar1st. that fiscal cliff and its potential impact on our economy brought lawmakers from both uses to washington for last-minute negotiations. concerns about the cliff spooked investors, the holiday shortened trading week was lighter in volume but higher in volatility. the worst decline of the month on thursday after a disappointing read on consumer confident and some public statements by congressional leaders. and yet with one final trading day to go, all the major averages were still showing positive performance for the year of 2012. meantime, the u.s. is set to reach the debt limit on monday. that according to treasury secretary tim geithner in a letter to congress, though, he did say he expects to take what he called extraordinary measures to extend the government's borrowing ability for another two months or so. and even your cup coffee, once a deal on the fiscal cliff. baristas at the 120 starbucks in washington, d.c. were encouraged by management to add a shot of partisanship to their
and the spending cuts that are set to kick in on januar1st. that fiscal cliff and its potential impact on our economy brought lawmakers from both uses to washington for last-minute negotiations. concerns about the cliff spooked investors, the holiday shortened trading week was lighter in volume but higher in volatility. the worst decline of the month on thursday after a disappointing read on consumer confident and some public statements by congressional leaders. and yet with one final trading...
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Dec 27, 2012
12/12
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KRON
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president obama has cut his vacation short and is returning to the white house now. without a budget agreement automatic tax increases for everyone and deep spending cuts will be triggered and the new year. the main dispute continues to be over taxes. americans filing unemployment last week as dropped to 350,000. futures are up right now. a letter from treasury secretary tam geithner to congress sent after the bell yesterday may also weigh on the markets. >> the woman accused of killing a grandmother and a drunk driving accident at the twin peaks without has made her first court appearance. 23 year old gina eunice is accused of a hit and run drunken-driving in vehicular manslaughter. the accident occurred three people and killed 56 year old yuee byao who was here visiting her new grandchild from china. the judge set the bail at $2 million. if she posted she must wear a scram device that checks to make sure she is not drink alcohol and is not allowed to drive. she will be back in court for arraignment on december 31st. we will be right back. >> the layout has settled
president obama has cut his vacation short and is returning to the white house now. without a budget agreement automatic tax increases for everyone and deep spending cuts will be triggered and the new year. the main dispute continues to be over taxes. americans filing unemployment last week as dropped to 350,000. futures are up right now. a letter from treasury secretary tam geithner to congress sent after the bell yesterday may also weigh on the markets. >> the woman accused of killing a...
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Dec 30, 2012
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is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of the region and really the rest of the country are recovering from the winter storm that hit earlier in the week. this new round of weather bringing even more snow, freezing rain and strong winds already causing some flight delays and making the roads dangerous. meteorologist justin povik with the accu-weather. justin? >> harris, i tell you, we cannot catch a break across the northeast and the nation's midsection. not to leave out the west coast. they have been stormy and wet, especially around san francisco. the meat of the storm system has been targeting the ohio valley and the northeast, and the latest is doing its dirty work across the coastal sections. the i-95 corridor. the worst of the worst we will target boston over the course of the next three to four hours approaching an inch an hour. snow totals across the interior no
is for congress to make a deal in the next two days. harris? >> peter, thank you. fox weather alert now. a new headache for travelers. tonight a fresh storm system is pummeling the northeast. as you know much of the region and really the rest of the country are recovering from the winter storm that hit earlier in the week. this new round of weather bringing even more snow, freezing rain and strong winds already causing some flight delays and making the roads dangerous. meteorologist...
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Dec 31, 2012
12/12
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CNBC
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for nine years congress has passed doc fix funding to keep rates from being cut. this year it's being held hostage by the fiscal deadlock. without a fix, one physician group has calculated that most solo family doctors will see a $27,000 cut in terms of their revenues this year. a typical three-doctor practice will lose $80,000. the centers for medicare and medicaid notified doctors that they may not see a cut right away, because of a 14 to 29-day in terms of when they actually pay the bills after they are received. if congress reaches a deal by mid-month, they won't see a problem. the cms says they'll provide an update on january 11th. not knowing how much you're going to get paid for a couple of weeks as you're starting to see patients. there's bipartisan support to change the sgr. the sticky point is how. >> physicians are the second largest line item in medicare, behind hospitals. we do need to do something at some point. i'm just not sure a blunt cut costs approach is going to be successful. >> now, the cbo has estimated it could cost up to $300 billion over
for nine years congress has passed doc fix funding to keep rates from being cut. this year it's being held hostage by the fiscal deadlock. without a fix, one physician group has calculated that most solo family doctors will see a $27,000 cut in terms of their revenues this year. a typical three-doctor practice will lose $80,000. the centers for medicare and medicaid notified doctors that they may not see a cut right away, because of a 14 to 29-day in terms of when they actually pay the bills...
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Jan 1, 2013
01/13
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CNNW
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this entire process and maybe kill it in this current congress. tax increases would go forward for millions and millions of americans. we're watching what's happening in the congress right now. world financial markets are watching very closely as well. they'll soon start reopening after the new year holiday, beginning shortly in asia, later overnight in europe, followed by wall street in the mourning. let's go to our chief business correspondent, ali velshi in new york. ali, what will make investors take a look at this fiscal cliff uncertainty and decide to buy or sell? what's going to happen? >> well, they're really going to wait for the same thing we're waiting for. and that is some srcertainty. so at this point, as you've been reporting so well for a few hours, we don't know whether the house is going to vote or whether america is really going over the fiscal cliff for a few days. now, we've got only australia open at the moment and new zealand. these are not markets that will give us a real sense of how the rest of the world is going to go, an
this entire process and maybe kill it in this current congress. tax increases would go forward for millions and millions of americans. we're watching what's happening in the congress right now. world financial markets are watching very closely as well. they'll soon start reopening after the new year holiday, beginning shortly in asia, later overnight in europe, followed by wall street in the mourning. let's go to our chief business correspondent, ali velshi in new york. ali, what will make...
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Dec 31, 2012
12/12
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the white house and congress only have a few hours to reach a deal to avert tax hikes and spending cuts sought to take place tomorrow. leaders are at odds over several issues including the income level for higher tax rates. a woman charged with killing a man a pushing and in front of a new york city subway train is undergoing a psychiatric evaluation. prosecutors say that she pushed the man in front of a train because she thought it would be cool. she reportedly said in the past that she hates hindus and muslims. ♪ families and friends gathered in upstate new york to remember lieutenant michael stefanari. -- chatinari. one man is accused of killing his sister and the two firemen by deliberately setting house on fire. >> he was so generous, loving, and thoughtful. he was my best friend. even though i am surrounded by wonderful people i have an incredibly lonely feeling. my heart is broken, and i'm so thankful for the years we did share. >> two other firefighters were wounded. spangler killed himself. president obama talked about guns during a sunday morning interview. the president tol
the white house and congress only have a few hours to reach a deal to avert tax hikes and spending cuts sought to take place tomorrow. leaders are at odds over several issues including the income level for higher tax rates. a woman charged with killing a man a pushing and in front of a new york city subway train is undergoing a psychiatric evaluation. prosecutors say that she pushed the man in front of a train because she thought it would be cool. she reportedly said in the past that she hates...
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Dec 28, 2012
12/12
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CSPAN
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if congress is going to be able to deal with these tax cuts right after january 1, what is the holdup with dealing with them right before generate one? -- before january 1? why is it? >> you are asking about something that may happen later today, but for over a month both of us have been trying to get us to pivot away from this issue and deal with it. also, to begin deal with the issue that our nation faces which is entitled reforms. whether it happens before, which is more responsible, or after january 1, it is going to happen. i do not think the market is responding to that. i think the market -- and i am only a lowly senator -- but i think the market is going to respond more negatively to a situation where we kick the can down the road and we really do not address the structural fiscal issues that this nation has picked it is an ebb and flow, but if we in fact do not use this period of time before us right now to deal with the issues of entitlements, i think the market will respond in a more permanent and negative way to our inaction. >> both have been involved in two years of nego
if congress is going to be able to deal with these tax cuts right after january 1, what is the holdup with dealing with them right before generate one? -- before january 1? why is it? >> you are asking about something that may happen later today, but for over a month both of us have been trying to get us to pivot away from this issue and deal with it. also, to begin deal with the issue that our nation faces which is entitled reforms. whether it happens before, which is more responsible,...
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era cuts lapse for the wealthy is a bitter pill. >> the big battle is still to come. it's over the debt ceiling. >> but senate republican leader mcconnell did not join in bashing td president, pushing fellow republicans to accept the compromise. >> the president said, quote, for now our most immediate priority is to stop taxes going up for middle class families starting tomorrow, end quote and i agree. >> sor, white house and you just heard the senate minority leader they have a deal. and whether or not congress accepts it, we'll have to wait to see. neither left nor right likes this deal, house officials tell abc news nancy pelosi and hairy -- harry re dismt d both signed off on the plan. >> mark, thank you very much. well, one of the people who could with affect fwhitd action is roshel carguile, she makes her own business making and marketing her own brand of salsa. the lack of a deal has left her confused and uncertain about the future of her business. >> if the fiscal cliff seems abstraction, here is a small business perched on the edge. >> i mix it and make a fab
era cuts lapse for the wealthy is a bitter pill. >> the big battle is still to come. it's over the debt ceiling. >> but senate republican leader mcconnell did not join in bashing td president, pushing fellow republicans to accept the compromise. >> the president said, quote, for now our most immediate priority is to stop taxes going up for middle class families starting tomorrow, end quote and i agree. >> sor, white house and you just heard the senate minority leader...
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Dec 30, 2012
12/12
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KOFY
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if a deal is note struck, tax hikes and budget cuts will kick in. it seems unlikely they can write a comprehensive budget bill in time. they are thinking of a fall back plan. >> president obama is urging congress to focus. >> i'm optimistic that an agreement can be achieved. >> at the white house friday the president and congressional leaders spent some 70 minutes in a negotiating session and agreed to keep talking. >> it was constructive. >> it was constructive. >> i'm hopeful and optimistic. >> as snow fell on mostly deserted washington, two sides continued bargaining. if there some on deal, president obama wants smaller bill extending tax cuts making $250,000 or less and continuing unemployment benefits for millions that will lose them. >> i believe such a proposal could pass both houses with bipartisan majorities as long as these leaders allow it to come to a vote. >> we can still avoid going over the fiscal cliff if the president and democratically controlled senate step forward to solve this problem and solve it now. >> frustration over the im
if a deal is note struck, tax hikes and budget cuts will kick in. it seems unlikely they can write a comprehensive budget bill in time. they are thinking of a fall back plan. >> president obama is urging congress to focus. >> i'm optimistic that an agreement can be achieved. >> at the white house friday the president and congressional leaders spent some 70 minutes in a negotiating session and agreed to keep talking. >> it was constructive. >> it was constructive....
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Dec 26, 2012
12/12
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KPIX
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but an even higher percentage support significant spending cuts. and that's not part of the democratic package, so what i'm saying is that both sides here have a problem with the american people, and it's why congress has an 11% job approval rating. gadhafi had an 17% approval rating, and that's from the people he was killing. >>> how are republicans doing right now on the gun control debate? >> well the public doesn't look at it as a republican or democratic issue. in the last three or four days, more people, more families based on what i heard, spent time talking about their fear of gun violence than the fiscal cliff. it's completely different situation when you have little children killed and the public is asking if not insisting, that something be done so it doesn't happen again. >> does something get done? >> i know these people in washington, some of them may be watching now. they don't talk to each other, they don't have dialogue or conversations. this system in dc and the american people voted for it they voted for the president, they voted
but an even higher percentage support significant spending cuts. and that's not part of the democratic package, so what i'm saying is that both sides here have a problem with the american people, and it's why congress has an 11% job approval rating. gadhafi had an 17% approval rating, and that's from the people he was killing. >>> how are republicans doing right now on the gun control debate? >> well the public doesn't look at it as a republican or democratic issue. in the last...
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Jan 2, 2013
01/13
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WJLA
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and the debt ceiling deal will be reached in two months if congress does not act. jim moran is not confident working out a deal will be easy. >> just increasing the deficit by $3.90 trillion, which will now force us to dramatically street the size of government and that will have an adverse impact on the washington area. >> the president returns to hawaii, so it's not clear when he will sign the bill. brianne carter reporting. >> secretary of state hillary clinton continues to recover from public clocked at a new york hospital. she was last seen in public three weeks ago before she fainted and was fossilized with a concussion. doctors ran some scans which revealed the blood clots between her brain and her skull. the good news is they say there will likely be no long-lasting neurological damage. >> today is the first day back to school for the students of sandy hook elementary. there are attending open house at every purpose of building in monroe conn. will start class tomorrow. workers and teachers have been getting the area ready after painting and setting up clas
and the debt ceiling deal will be reached in two months if congress does not act. jim moran is not confident working out a deal will be easy. >> just increasing the deficit by $3.90 trillion, which will now force us to dramatically street the size of government and that will have an adverse impact on the washington area. >> the president returns to hawaii, so it's not clear when he will sign the bill. brianne carter reporting. >> secretary of state hillary clinton continues to...
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Jan 3, 2013
01/13
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WBFF
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payroll ttx cut expired on monday. so now, workers are paying two--eerent more in the payrool tax -- social seccriiy -- was temporarily lowered tt six-point-two percent. and the &pidea here workers a little extra money inntteirr ppychecks, in he economy. but now that the economy is doing congress is trying o get spendinggin check, the payroll tax returns to six-so here's payroll ttxes this year. n -3rs& reduction in pay oona bi-weekly payyheck. and the bigger the paycheckk the bigger the bite. $100,000 will year. the concern is, could affect people's ssendiig conccrns about and tax hikes. and this caused hooiday shoopers toopull back a bit. &new york. 3for the fifth year n a row... waahington d-c is the country'ssnumber one city... for people moving in.thh "united van lines'" latest - annual migration study. roundinggout the top five places people moved to in 2012 are: oregon, nevada,,nnrth carollna anddsouuh carolina. &pa new law in israel bans models from working... if theyy aae too thin.it'' part of an masssindex to
payroll ttx cut expired on monday. so now, workers are paying two--eerent more in the payrool tax -- social seccriiy -- was temporarily lowered tt six-point-two percent. and the &pidea here workers a little extra money inntteirr ppychecks, in he economy. but now that the economy is doing congress is trying o get spendinggin check, the payroll tax returns to six-so here's payroll ttxes this year. n -3rs& reduction in pay oona bi-weekly payyheck. and the bigger the paycheckk the bigger...
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Dec 29, 2012
12/12
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CSPAN2
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they are doing precisely what the people who elected them did, which is rolled back obama initiatives, cut spending. a lot that the debt ceiling should not be increased under a circumstances where they feel like i was a failure. but they basically believe their job is first to obstruct barack obama and once there is a republican president in place to pass this initiatives that create better business climate. more and more deregulation committee funding of programs that have never quite been near and dear to them. i think they do believe -- of course to fast-forward a bit about the debt ceiling fiasco of 2011, but after the summer we were taken to the brink of a fiscal cliff, one we are about to see it it can come in to thinking part of the house republican leadership was maybe her tea party freshman will go home, get yelled at by constituents and they'll realize this compromise is not such a bad thing. the opposite occurred. he went home and people go to town halls tend to be the activists of their party and those people tend to be tea party and everyone screaming, why did you accept a dea
they are doing precisely what the people who elected them did, which is rolled back obama initiatives, cut spending. a lot that the debt ceiling should not be increased under a circumstances where they feel like i was a failure. but they basically believe their job is first to obstruct barack obama and once there is a republican president in place to pass this initiatives that create better business climate. more and more deregulation committee funding of programs that have never quite been...
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Jan 2, 2013
01/13
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FOXNEWSW
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for the $15 billion in spending cuts, there are $620 billion in spending hikes. so is this a fair deal? joining us right now is the chairman of the house oversight, government reform committee darrell issa. congressman, you could not get yourself to vote for it. was it because of the ratio i just went over? >> it was. the fact is that republicans stand for smaller government and fiscal responsibility. there was nothing last nig the fiscally responsible. it was all about maintaining, full, the status quo of kick the can down the road. $4 trillion will be added to the debt over the next ten years as a result of last night's vote and, in fact, there weren't just no spending cuts, this was a 300 some billion dollars increase effectively. you mentioned hurricane sandy, the fact is the speaker had no choice, had we brought autopsy vote, marked it down to 20 or so, 27 billion where it should be to provide the actual relief, the senate wasn't there to take it, so effectively, it wouldn't have become law and the speaker knew. >> steve: the other problem, congressman, is t
for the $15 billion in spending cuts, there are $620 billion in spending hikes. so is this a fair deal? joining us right now is the chairman of the house oversight, government reform committee darrell issa. congressman, you could not get yourself to vote for it. was it because of the ratio i just went over? >> it was. the fact is that republicans stand for smaller government and fiscal responsibility. there was nothing last nig the fiscally responsible. it was all about maintaining, full,...
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president obama says he hopes congress can reach an agreement with a little less drama. >> katie: what are the chances that republicans go along with raising the debt ceiling? >> we've seen there fight before. republicans will probably have to go along with it because the country will reach its borrowing limit, but republicans see it as bargaining tool. they wanted deeper spending cuts and deficit reduction and probably end up getting it. >> katie: thank you. today one of suspects in a murder of former winery owner at his mansion will be in court, 21-year-old javier garcia will be arraigned and 23-year-old man should be in court and lou cast anderson was already arraigned and one other was booked as an accessory in the death of his mansion during a home invasion in november. our media partner says they portray him as a ruthless businessman accused of hiding millions of dollars of assets from creditors. >>> dramatic new video of the arrest of the driver that killed two people while running from police in san francisco. police approaching the suspect's vehicle and pulling him to the grou
president obama says he hopes congress can reach an agreement with a little less drama. >> katie: what are the chances that republicans go along with raising the debt ceiling? >> we've seen there fight before. republicans will probably have to go along with it because the country will reach its borrowing limit, but republicans see it as bargaining tool. they wanted deeper spending cuts and deficit reduction and probably end up getting it. >> katie: thank you. today one of...
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congress has adjourned. the president is off to hawaii to meet up with his family. and hopefully, he thinks for a few days' vacation. >> you mentioned the breathing for feelings got raw at the last minute. >> reporter: it got really nasty. in a story first reported by politico on friday when the congressional leaders met here at the white house, speaker of the house john boehner told the democratic leader, harry reid, off, using language i can't use here on "good morning america." >> you can't even paraphrase. >>> let's get a closer look at what the deal means to you at home. lots of paycheck changes right now. and bianna golodryga is at the smart screen to break it down. about 99% of americans protected from an income tax increase. but most workers will take a hit. >> taking a hit from payroll taxes going up. this affects everyone making $110,000 or less. so, this year, anyone making $110,000 will be paying an extra $2,200 in taxes. people making $50,000 will pay an extra $1,000. and someone making $20,000 a year will be paying more $400 a year. >> but most of the
congress has adjourned. the president is off to hawaii to meet up with his family. and hopefully, he thinks for a few days' vacation. >> you mentioned the breathing for feelings got raw at the last minute. >> reporter: it got really nasty. in a story first reported by politico on friday when the congressional leaders met here at the white house, speaker of the house john boehner told the democratic leader, harry reid, off, using language i can't use here on "good morning...
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Jan 3, 2013
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passed by congress that raises taxes for the higher earners, extends tax cuts for many americans. the president reviewed a copy of the bill while vacationing in hawaii before directing it to be signed via auto pen. that's the signature machine that the presidents sometimes use while away from washington, far from a bipartisan public signing ceremony. look at this. >> it was special. he wanted to capture it. it was special. >> back at the capitol -- >> in wisconsin they were thinking about signing civil rights legislation with his hands, then decided use the auto pen. looks better for the history books. >> on the jetsons. >> there are several major issues -- >> rosie, by the way. >> -- awaiting the president's return including the impending fight over the debt ceiling. >> it's going to be ugly. >> meanwhile, grover norquist sat down with andrea mitchell yesterday where he insisted that republicans who backed the fiscal cliff deal did not, in fact, vote to increase taxes. >> no republican voted for a tax increase. what happened was obama had the damacles over the heads of the americ
passed by congress that raises taxes for the higher earners, extends tax cuts for many americans. the president reviewed a copy of the bill while vacationing in hawaii before directing it to be signed via auto pen. that's the signature machine that the presidents sometimes use while away from washington, far from a bipartisan public signing ceremony. look at this. >> it was special. he wanted to capture it. it was special. >> back at the capitol -- >> in wisconsin they were...
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Dec 31, 2012
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rests right here with us in congress. o.m.b.'s decision with be overridden by a joint resolution. every provision of the calm act is familiar to the senate. in fact, at one time or another, nearly every feature of this plan has been offered by both republicans and democrats, including president obama and speaker boehner. all i'veone is pull them togethero offer them has a compassionate alternave to what happens if we go over the fiscal cliff. true, from the very beginning i have favored a comprehensive solution to put our fiscal house in orderings something along the lines of the simpson-bowles. we don't have that luxury right now. but perhaps it will only soften the blow of the fisl cliff but also give us a sense of urgency about a grand bargain to repair our financial house. i am not so naive as to believe everybody is going to check their piticat the door, even at this late hour, but this is not a time for politicki, bickering or partisan games. to allow the country to plunge over the fiscal cliff without any alternati
rests right here with us in congress. o.m.b.'s decision with be overridden by a joint resolution. every provision of the calm act is familiar to the senate. in fact, at one time or another, nearly every feature of this plan has been offered by both republicans and democrats, including president obama and speaker boehner. all i'veone is pull them togethero offer them has a compassionate alternave to what happens if we go over the fiscal cliff. true, from the very beginning i have favored a...
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but we're hopeful that congress can get it done. it is not done. and so, part of the reason that i wanted to speak to all of you here today is to make sure that we emphasize, to congress, and that members of both parties understand that all across america this is a pressing concern on people's minds. >> reporter: again, on the issue of tax increases and who constitutes the wealthiest of americans. the president was originally pitching a threshold of $250,000 a year in income. republicans wanted to see that as high as one million dollars. the deadline is midnight eastern time. keep in mind, even if congress misses that deadline they can put off the tax increases or refund them retroactively. katie marzullo, abc7 news. >>> a lot of us worried about our wallets. one item that won't fall off the cliff is milk. committees agreed to one year extension of the farm bill. committee approval is a good indication the full congress will follow even though the bill hasn't reached the floor. if the extension is not ok'd, the price of milk could double by next mo
but we're hopeful that congress can get it done. it is not done. and so, part of the reason that i wanted to speak to all of you here today is to make sure that we emphasize, to congress, and that members of both parties understand that all across america this is a pressing concern on people's minds. >> reporter: again, on the issue of tax increases and who constitutes the wealthiest of americans. the president was originally pitching a threshold of $250,000 a year in income. republicans...
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gained enough support to be sent to congress. a year later in 2011, another fight emerged in congress over the treasury department's request to raise the debt limit. congress battled for months and the economy suffered, resulting in the u.s. losing its aaa credit rating for the first time in history. we were downgraded. what's next? and as part of a last-ditch compromise to avoid default, both sides agreed to $1 trillion in spending cuts and an additional $1.2 trillion in across-the-board cuts that would kick in at the beginning of 2013 unless a bipartisan super committee made up of politicians from both parties could come up with an agreement. that super committee failed, and of course, the country is now facing those self-imposed, massive cuts to defense spending and other programs. fed chair ben bernanke warned that if these cuts went through, and we're looking at a deadline that's 16 hours away, the country risked going over what he called a fiscal cliff. since the president's re-election, he and republicans have traded offer
gained enough support to be sent to congress. a year later in 2011, another fight emerged in congress over the treasury department's request to raise the debt limit. congress battled for months and the economy suffered, resulting in the u.s. losing its aaa credit rating for the first time in history. we were downgraded. what's next? and as part of a last-ditch compromise to avoid default, both sides agreed to $1 trillion in spending cuts and an additional $1.2 trillion in across-the-board cuts...
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Jan 2, 2013
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spending by a trillion or no deal. >> last time i looked congress appropriated the money. it's bills passed due. >> which congress? the republican house of representatives all voted against that. the spending that's -- >> plenty of other money in there, though, this congress voted for, the house-led republicans went along with a lot of spending in the past two years. look, at this stage, john boehner could have had a deal a couple of weeks ago that would have included some modification on the c.p.i. for social security recipients, and the president said, as well, some adjustment against the wishes of his own party members, he was willing to talk about the raising the retirement edge, the eligibility age. >> democrats in senate said that was off the table, that was never a reality. second of all, we're in a position that we're dealing with spending cuts -- >> didn't john boehner reject a better deal from his values, according to his principles, that he ended up -- he then ended up finally leading the house to vote for last night? >> no, because last night was not a final de
spending by a trillion or no deal. >> last time i looked congress appropriated the money. it's bills passed due. >> which congress? the republican house of representatives all voted against that. the spending that's -- >> plenty of other money in there, though, this congress voted for, the house-led republicans went along with a lot of spending in the past two years. look, at this stage, john boehner could have had a deal a couple of weeks ago that would have included some...
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spending cuts without more tax hikes. republicans were furious. >> he calls people and has a group standing behind them and ridicules republicans. why? why would the president wants to do that? >> republicans thought they were close to a deal yesterday. senior leaders said that deal fell apart when the white house coupled tax hikes with new spending measures. >> any suggestion that this new revenue, would be used to give away and funds new spending. >> the stakes remain high. especially for the d.c. region. >> the washington region will suffer under sequestration far worse than other parts of the country. >> both sides still insist they want a deal. the senate and house to avoid the fiscal cliff, but the senate is pushing forward hoping they will have the deal by midnight tonight. we will technically go over the cliff on new year's day. the house hopes to fix everything on wednesday. they hope the markets will stay calm if the senate? today. mellon says they're happy with this final deal -- no one says they are happy with
spending cuts without more tax hikes. republicans were furious. >> he calls people and has a group standing behind them and ridicules republicans. why? why would the president wants to do that? >> republicans thought they were close to a deal yesterday. senior leaders said that deal fell apart when the white house coupled tax hikes with new spending measures. >> any suggestion that this new revenue, would be used to give away and funds new spending. >> the stakes remain...
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. >> if there is no deal income tax cuts and payroll tax cuts are scheduled to expire at the end of the year. 2 million jobless americans lose their unemployment benefits. the president and congress impressional leaders from both parties are scheduled to meat at the white house at 3:00 tomorrow to try to find some way out of this mess. they have met at the white house before to try to find some way out of this mess, and every single time they did that, they did not find a way out of this mess. if past is prologue, derek, get out your wallet. >> well, gary, as the mess, as you describe it, looms closer and closer, what do you really want to know about this fiscal cliff? join us tomorrow for 9news at 5:00. we'll have an expert here to begin to answer your questions which, of course, are more and more relevant. >>> after a hyattsville man tried to take his own life, a calm and cool 911 dispatcher, a mother's prayer on facebook and the power of love and friendship seemed to reach out and save him. tonight, david dawson wants to help others what may be considering suicide learn from what he
. >> if there is no deal income tax cuts and payroll tax cuts are scheduled to expire at the end of the year. 2 million jobless americans lose their unemployment benefits. the president and congress impressional leaders from both parties are scheduled to meat at the white house at 3:00 tomorrow to try to find some way out of this mess. they have met at the white house before to try to find some way out of this mess, and every single time they did that, they did not find a way out of this...
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about $24 billion in spending cuts would be delayed for two months so the white house and congress can have more time to debate them. democrats and republicans agreed to a compromise. they say not acting could have had devastating consequences. >> we don't think taxes should be going up on anyone. but we all knew that if we did nothing, they'd be going up on everyone. >> it is now up to the house to vote on that proposal. >>> this morning, police in prince william county are mourning the loss of one of their own killed in the line of duty. 35-year-old officer chris young who you see there was responding to an accident yesterday when he slammed his motorcycle into a minivan on a nokesville road in bristow. when the vehicles collided, they burst into flames. young died and the driver of the minivan was not injured. still no word if any charges will be filed against the driver. >> the search is on for the driver who ran over a 16-year-old girl and then took off. jackson was crossing a busy new york avenue in northwest friday night when she was hit by a car. police say she was in the stree
about $24 billion in spending cuts would be delayed for two months so the white house and congress can have more time to debate them. democrats and republicans agreed to a compromise. they say not acting could have had devastating consequences. >> we don't think taxes should be going up on anyone. but we all knew that if we did nothing, they'd be going up on everyone. >> it is now up to the house to vote on that proposal. >>> this morning, police in prince william county...
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pouring limit is something which congress needs to pass in the public says we're quite happy to hold this over the obama administration until they get the spending cuts that they want so there's a lot of political wrangling ahead and yet. nerve markets. while this right now see the u.s. markets reaction then as i say a new year round it is underway right now that is in reaction to the nor make his passing of the bill of those spending cuts and tax increases so we got a real sense of relief on the trading floors today really the same goes for europe as well which are those numbers out as well for you again we've got healthy positive gains and as far as europe's concerned stocks rallied to a twenty two month high and that's after the deal was struck immediately after so as far as the global equity markets are concerned it's solved so good over two percent up for the sea and the dax just that. and moving on then is that you you managed to escape the find out to claim of twenty twelve then can you stuff lucky or some would argue simply resourceful in the third year of the global recessio
pouring limit is something which congress needs to pass in the public says we're quite happy to hold this over the obama administration until they get the spending cuts that they want so there's a lot of political wrangling ahead and yet. nerve markets. while this right now see the u.s. markets reaction then as i say a new year round it is underway right now that is in reaction to the nor make his passing of the bill of those spending cuts and tax increases so we got a real sense of relief on...
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not demand fiscal cliff cuts and vote on the same day to spend billions in disaster relief. boehner promised the new congress will vote on sandy help tomorrow. >> it was an extremely positive meeting. >> reporter: but more proof in this political environment every kind of issue can veer off into another crisis. not the country is fractured. conservatives and liberals, republicans and democrats have very different views how to deal with issues, taxes and spending and entitlements, that's not going away. >>. >> reporter: this is a critical political day for john boehner as well. we watched him have political setbks in recent days and part of a new congress is electing a speaker. john boehner's aides says despite criticism and rumblings, they expect him to be elected. >>> congressman king, good morning. the speaker says they will now vote on super storm sandy and are you confident all the money will be delivered to the people in need? >> i am. it is a $9 billion bill voted on friday and january 15th, to the rema remaining amount. many districts are devastated. my own neighborho
not demand fiscal cliff cuts and vote on the same day to spend billions in disaster relief. boehner promised the new congress will vote on sandy help tomorrow. >> it was an extremely positive meeting. >> reporter: but more proof in this political environment every kind of issue can veer off into another crisis. not the country is fractured. conservatives and liberals, republicans and democrats have very different views how to deal with issues, taxes and spending and entitlements,...
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it's a term used to describe the expiry of tax cuts dating back to 2001. if there is no deal, 88% of americans will end up paying $400 billion more in 2014. that will be coupled with more than a trillion dollars in automatic government spending cuts. according to the congressional budget office it will start with $200 billion in military and social welfare cuts next year. the big concern over falling off the fiscal cliff is it will send the u.s. back into a recession with, of course, global repercussions. it could be weeks before anyone feels the effects. and analysts say even without an agreement, politicians can reach other deals to soften the impact. >> u.s. president barack obama making a rare appearance on one of u.s. tv's agenda-setting sunday shows. he appealed to politicians of both parties not to let the u.s. go off the so-called fiscal cliff. the budget crisis, some kay -- say could tip the u.s. into recession dragging the rest of the world with it. >> over the next 48 hours, regardless of partisan differences our top priority has to be that taxe
it's a term used to describe the expiry of tax cuts dating back to 2001. if there is no deal, 88% of americans will end up paying $400 billion more in 2014. that will be coupled with more than a trillion dollars in automatic government spending cuts. according to the congressional budget office it will start with $200 billion in military and social welfare cuts next year. the big concern over falling off the fiscal cliff is it will send the u.s. back into a recession with, of course, global...
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Jan 1, 2013
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the packkge blocks spenddng unemployment benefits for the - longgterm jobless, prevents a 27 perrent cut innfees fr &pdoctors who treaa medicare patients and prevvnts a spike in milk prices. a last-minute additioo would also prevent a pay raise for members of congress from lawmakers are rrlievee thht phey ffnally reached an agreement. whole sot: working through the &pnight... weeve reached a deal.... ..... this legislation doos that that whole sot: we can say we've done some good or the country.... through... repuclibans arr eady for &pfor the house is expected ttovote on the proposal either today or tomorrow. cliff... llwmakers also have ceiling.the u-s rrached it's legal borrowing limit of 16-point-4 trillion dollars yesterday.the treasury department is taking measurrss to buy time until the end of february.they include... suspending some investmenns in peneeit funds for fedeeal worrers.but after that... the &ptreesury will not be able to in full... and on timm.s bills congress would have toovote n raising the debt ceiliig... setting the stage for another fight n capital hill. even tho
the packkge blocks spenddng unemployment benefits for the - longgterm jobless, prevents a 27 perrent cut innfees fr &pdoctors who treaa medicare patients and prevvnts a spike in milk prices. a last-minute additioo would also prevent a pay raise for members of congress from lawmakers are rrlievee thht phey ffnally reached an agreement. whole sot: working through the &pnight... weeve reached a deal.... ..... this legislation doos that that whole sot: we can say we've done some good or the...
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this is a pure creation of congress. >> bill: total. they came up with the sequester, this whole crazy idea now they cannot find their way out of it. they have actually said we want america to fail. if we don't get tax cuts for our millionaires and billionaires we'll let the economy tank. i have to tell you if this gang -- if people like this were head of any business they say they are the -- the republican party is the party of business bs. if any business were one that way, the whole gang would have been fired a long time ago. >> yeah. imagine if you worked in a warehouse and you said okay here is my plan i'm going to go through this warehouse and break all of these jars that we have on the shelf. okay, well what is your plan to clean the mess up? i don't know. >> bill: yeah, i don't have a plan and i don't care. what can we do about this congress. i feel embarrassed to be in washington, d.c. today. thank god i'm not a member of congress. ♪ >> announcer: heard around the country and seen on current tv this is the "bill press show."
this is a pure creation of congress. >> bill: total. they came up with the sequester, this whole crazy idea now they cannot find their way out of it. they have actually said we want america to fail. if we don't get tax cuts for our millionaires and billionaires we'll let the economy tank. i have to tell you if this gang -- if people like this were head of any business they say they are the -- the republican party is the party of business bs. if any business were one that way, the whole...
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to be a temporary bandaged and also extend unemployment benefits and delays the automatic spending cuts to the pentagon and domestic programs by three months. crack at some point you just want to not pay attention to it. >> others are more optimistic. >> hopefully, they will figure it out next year. we have options if we go over the fiscal cliff. >> mitch mcconnell and senate democrats hit a stalemate on the weekend and he met twice today with the vice-president. >> i am willing to get this done, but i need a dance partner. >> the deal is tenuous and needs to get through a republican- controlled house as a countdown of a different kind chris closer, that is set to trigger a broad tax increases and drastic cuts. our top priority has to be to make sure taxes on middle-class families don't go up. that would hurt our economy badly. >> this afternoon it appears we are very close to a deal. if not, an average american family will start the new year with a $3,400 tax hike. here's hoping there's a reason to raise your glass in a post tonight and a sigh of relief. john gonzalez, abc 7 news. >> y
to be a temporary bandaged and also extend unemployment benefits and delays the automatic spending cuts to the pentagon and domestic programs by three months. crack at some point you just want to not pay attention to it. >> others are more optimistic. >> hopefully, they will figure it out next year. we have options if we go over the fiscal cliff. >> mitch mcconnell and senate democrats hit a stalemate on the weekend and he met twice today with the vice-president. >> i am...
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economy held hostage. >> if congress allows the economy to fall off the fiscal cliff, the budget for the u.s. air force will be cut by $4 billion. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... sfx- "sounds of african drum and flute" look who's back. again? it's embarrassing it's embarrassing! we can see you carl. we can totally see you. come on you're better than this...all that prowling around. yeah, you're the king of the jungle. have you thought about going vegan carl? hahaha!! you know folks who save hundreds of dollars by switching to geico sure are happy. how happy are they jimmy? happier than antelope with night-vis
economy held hostage. >> if congress allows the economy to fall off the fiscal cliff, the budget for the u.s. air force will be cut by $4 billion. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have...
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congress has the ability to take those things in. take the time to cut and paste and slap things in. but can't seem to get around it a vote in the house for an pornlt issue. >> this is fairly typical of lame duck fashions. especially with a bill like fiscal cliff. other important things are held hostage and sometimes the clock runs out. you just go got realize these are human beings. they are sleep deprived, angry, this is the most brutal game of poker ever played in washington. believe me, they will take this up in a couple of weeks. believe me, if it were me, i would have passed the bill. move on, they will pass it early next week. we know that. >> hopefully that will get down to it and pass that aid bill super, super fast. in the meantime, back to the issue of raising the fiscal cliff deal. i want to bring in the head of the fix the debt campaign. maya, give it to us point blank. how would you race it? >> i think the description i gave to your producer doesn't work on a family friendly show. this is pathetic. if there wasn't a mom
congress has the ability to take those things in. take the time to cut and paste and slap things in. but can't seem to get around it a vote in the house for an pornlt issue. >> this is fairly typical of lame duck fashions. especially with a bill like fiscal cliff. other important things are held hostage and sometimes the clock runs out. you just go got realize these are human beings. they are sleep deprived, angry, this is the most brutal game of poker ever played in washington. believe...
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today president obama called on congress to agree on a compromise plan to protect the middle class. >>> the woman who went to prison for murdering the scarsdale diet doctor in 1990 has herself died. jean harris was 89. she was the doctor's longtime lover. he developed the famous fad, the diet in the 1980s, and harris said she found him treated on her and tried to commit suicide in front of him. they wrestled over a gun and he was shot. >>> former president george h.w. bush is getting better. he is reportedly singing with doctors and nurses in the houston hospital where he is at, although he is still in the intensive care unit. the senior bush has been in the hospital now for more than a month, but his family says that they are confident that he'll be out or released soon. >>> a cancer diagnosis didn't stop one man. in fact, at 79, it is spurring him on to achieve new goal as a marathon runner. >>> plus, no more nudity in san francisco. at least not in public. it is one of the most outrageous lawsuits of the year. and of course our legal guy will weigh in. announcer ] what if the next
today president obama called on congress to agree on a compromise plan to protect the middle class. >>> the woman who went to prison for murdering the scarsdale diet doctor in 1990 has herself died. jean harris was 89. she was the doctor's longtime lover. he developed the famous fad, the diet in the 1980s, and harris said she found him treated on her and tried to commit suicide in front of him. they wrestled over a gun and he was shot. >>> former president george h.w. bush is...
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Dec 28, 2012
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both senate leaders admitting that congress is facing a hard deadline while at the same time, blaming each other for not having a deal in place by now. president obama cut short his holiday vacation and returned to the white house to work on a deal to avoid the "fiscal cliff." before flying home from hawaii, the president called congressional leaders nancy pelosi, john boehner, mitch mcconnell and harry reid to reach agreements before tax hikes and spending cuts kick in january 1. >> we have been asking the president and the democrats to work with us on a bipartisan agreement for months. >> i don't know time wise how it can happen now. >> reporter: the senate majority leader wants house republicans to return from their vacations to approve a democratic senate plan that extends tax cuts for families making less than $250,000 a year. >> that's the only option that is viable escape route. >> reporter: but republican leaders say it's up to democrats who control the senate and white house to avert the "fiscal cliff." >> republicans aren't about to write a blank check for anything senate de
both senate leaders admitting that congress is facing a hard deadline while at the same time, blaming each other for not having a deal in place by now. president obama cut short his holiday vacation and returned to the white house to work on a deal to avoid the "fiscal cliff." before flying home from hawaii, the president called congressional leaders nancy pelosi, john boehner, mitch mcconnell and harry reid to reach agreements before tax hikes and spending cuts kick in january 1....
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>> i'm confident that congress will see the will of the people. >> reporter: he says he's excited about making sure his supporters know he is ready to hit the pavement running. one supporter in particular. >> my own mom at christmas dinner told me, do not raise my taxes. she is following, just like other americans, what's going to happen with the fiscal cliff. >> reporter: representative elect swalwell hez his new office in d.c. won't be much bigger, but the responsibilities, monumental. his message... >> mom, i'm working for you. i'm receiving your text messages. i'm gonna make sure i stand up for you and the people who i grew up with. >> reporter: swalwell will be the second youngest member of congress when he's sworn in on january 3. he leaves this sunday for washington, d.c. to pick up his new keys to his office. in dublin, juliette goodrich, cbs 5. >>> checking bay area headlines, walnut creek police investigating a deadly officer- involved shooting. police got a 911 call from a screaming woman at the diablo pointe apartments. it was about 3 a.m. now, when officers arrived, they sa
>> i'm confident that congress will see the will of the people. >> reporter: he says he's excited about making sure his supporters know he is ready to hit the pavement running. one supporter in particular. >> my own mom at christmas dinner told me, do not raise my taxes. she is following, just like other americans, what's going to happen with the fiscal cliff. >> reporter: representative elect swalwell hez his new office in d.c. won't be much bigger, but the...
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so the white house and congress can have more time to debate them. democrats and republicans agreed to a compromise. they say not acting could have had devastating consequences. >> we don't think taxes should be going up on anyone. but we all knew that if we did nothing, they'd be going up on everyone. >> it is now up to the house to vote on the proposal. president obama released a statement shortly after the senate voted that reads in part, "tonight's agreement ensures that going forward we will continue to reduce the deficit through a combination of spending cuts and new revenues from the wealthiest americans. i will continue to fight every day on behalf of the middle class and all those fighting to get into the middle class to forge an economy that grows from the middle out, not from the top down." >>> but the house may not be ready to vote just yet. house speaker john boehner says his team needs to review the measure before deciding to schedule a vote on it or trying to change it. the white house hopes to have president obama's signature on the l
so the white house and congress can have more time to debate them. democrats and republicans agreed to a compromise. they say not acting could have had devastating consequences. >> we don't think taxes should be going up on anyone. but we all knew that if we did nothing, they'd be going up on everyone. >> it is now up to the house to vote on the proposal. president obama released a statement shortly after the senate voted that reads in part, "tonight's agreement ensures that...
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Jan 1, 2013
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is going to have to once again decide how they're going to defer these a draconian spending cuts that was decided the last time we voted on the debt ceiling. so all of this time is going to come together and you add one more thing to it and that is the appropriations bill, the spending bill. it expires in march. so you have these three things happening in march. it's just going to lead to another grand bargain, drama-style negotiation and whether or not they come with if comprehensive bill to reform some of the entitlement programs, to reduce government spending, to simplify the tax code, all of the things we heard them talk about our political leaders in washington over the last year and a half. that will be the next chance they have to do that to come together, if you will. to either fight or come together in the grand bargain style agreement. but joe biden tonight, telling democrats behind closed doors when he met with them here on capital hill, he expects a donnie brook when he expects those things to pass. >> we will keep an eye on everything that's happening with this and on the
is going to have to once again decide how they're going to defer these a draconian spending cuts that was decided the last time we voted on the debt ceiling. so all of this time is going to come together and you add one more thing to it and that is the appropriations bill, the spending bill. it expires in march. so you have these three things happening in march. it's just going to lead to another grand bargain, drama-style negotiation and whether or not they come with if comprehensive bill to...
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just when you think we're in the clear, congress reels us right back in. yes, there is finally fiscal cliff deal. now a brand newhowdown looms over the debt ceiling. when will the madness end? we'll ask republican senator john barrasso. >>> plus a sperm donor being forced to pay child support. despite his signing away all pareal rights before the baby was born. we'll look at money impact on the baby business everywhere. >>> and this picture will self-detruck in 10 seconds. the ap chat picture sharing app takes smartphoneby storm. deletes content explicit or otherwise in just seconds after viewing it. or does it? how users could be literal caught with their pants down. we'll explain that one coming up. even when they say it's not it is always about money melissa: let's get righto a developing story right now.w. moody's rating agency just warning a short time ago that the fiscal cliff deal does not g far enough. moody's warning it will cut the u.s. credit rating without more deficit reduction. the mark sets celebrating today, not worried about tomorrow, a hu
just when you think we're in the clear, congress reels us right back in. yes, there is finally fiscal cliff deal. now a brand newhowdown looms over the debt ceiling. when will the madness end? we'll ask republican senator john barrasso. >>> plus a sperm donor being forced to pay child support. despite his signing away all pareal rights before the baby was born. we'll look at money impact on the baby business everywhere. >>> and this picture will self-detruck in 10 seconds. the...
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Dec 28, 2012
12/12
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the house republicans want to cut taxes rather than raising taxes. but frankly, i think this is going to the 113th congress from where we are today the. do you think we're going to feel it on the real economy in the first quarter? are we going to see this slight cautiousness feeding through in how -- >> well, first of all, we are seeing it on the u.s. economy already. there's no question about that. it has happened a distinct impact on corporate america's willingness to invest over the past several months, some say over the past year. that's likely to continue. even if we get a deal, what does this mean? it's a minimalist quick fix. it's not a debt and deficit grant grand bargain solution which obama and boehner were talking about weeks ago and it's probably not going to involve solving the debt ceiling problem. and, of course, we all saw what happened 18 months ago over the debt ceiling. it dragged on and on. bottom line, whatever happens in the next few days, markets, corporate america and consumers in america are probably going to have to deal wit
the house republicans want to cut taxes rather than raising taxes. but frankly, i think this is going to the 113th congress from where we are today the. do you think we're going to feel it on the real economy in the first quarter? are we going to see this slight cautiousness feeding through in how -- >> well, first of all, we are seeing it on the u.s. economy already. there's no question about that. it has happened a distinct impact on corporate america's willingness to invest over the...
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Dec 29, 2012
12/12
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LINKTV
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president obama says that congress must act now to avoid economic disaster. he has been meeting with republican and democratic leaders to reach a deal to avoid tax hikes and spending cuts that take effect january 1. >> the hour-long meeting with president barack obama was the first face-to-face session together with both republican leaders of the latest fiscal crisis. obama said he was modestly optimistic about the agreement by senate leaders on a compromise bill that could be voted on by monday. that is just two days before 6 under billion dollars of automatic tax hikes and spending cuts begin to take effect -- $600 billion of automatic tax hikes and spending cuts take effect. >> we want to make sure that unemployment insurance is still available for 2 million people and lay the groundwork for additional deficit reduction and economic growth steps to take in the new year. but let's not miss this deadline. >> we are working hard to get there in the next 24 hours. i'm hopeful and optimistic. >> whenever we come up with will be imperfect. some people will not l
president obama says that congress must act now to avoid economic disaster. he has been meeting with republican and democratic leaders to reach a deal to avoid tax hikes and spending cuts that take effect january 1. >> the hour-long meeting with president barack obama was the first face-to-face session together with both republican leaders of the latest fiscal crisis. obama said he was modestly optimistic about the agreement by senate leaders on a compromise bill that could be voted on by...
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pouring limit is something which congress needs to pass in the public says we're quite happy to hold this over the obama administration until they get the spending cuts that they want so there's a lot of political wrangling ahead on that yet. nerve markets. so that's what the experts are saying let's have a look at the u.s. markets reaction as you can see we are looking at that new year rally is underway and it's in reaction to the lawmakers passing of the bill advancing those spending cuts on those tax increases we were chatting about on real sense of relief on the trading floors as you can see it got some real positive has to gains on wall street . and let's take out europe then shall we see what's going on we've got stocks rallying to a twenty two month high after the deal was struck so as far as the global equity markets are concerned so far so good really for twenty eight thirteen as you can see again we're looking at positive gains that. how moving on then if you manage to escape the financial gloom of twenty twelve then count yourself lucky or somewhat all simply resourceful i
pouring limit is something which congress needs to pass in the public says we're quite happy to hold this over the obama administration until they get the spending cuts that they want so there's a lot of political wrangling ahead on that yet. nerve markets. so that's what the experts are saying let's have a look at the u.s. markets reaction as you can see we are looking at that new year rally is underway and it's in reaction to the lawmakers passing of the bill advancing those spending cuts on...
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Jan 3, 2013
01/13
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moody's credit rating agency has sent congress a new warning saying, if lawmakers do not come up with a plan to shrink the deficit, the country's top-notch credit ratings could be cut. >>> current tv, the network started by former vice president al gore has just been sold to al-jazeera, the arab news channel, looking to expand here in the united states. it could boost from 5 million u.s. homes to 40 million. but time warner, which is the country's second-biggest cable company is dumping current tv because of that deal. >>> and there's a change in the rental car world. avis is buying zip car for $500,000 looking to grow its business. zip car's smartphone apps help renters locate cars around cities and college campuses, instead of the traditional rental counter. and avis hopes to tap into that technology. >>> and there will be something new at starbucks stores today, refusible plastic cups. the coffee giant will be selling the cups for a buck and giving customers a 10 cent discount for every refill. the cup pays for itself after using it ten times. >> and they'll reportedly wash it for
moody's credit rating agency has sent congress a new warning saying, if lawmakers do not come up with a plan to shrink the deficit, the country's top-notch credit ratings could be cut. >>> current tv, the network started by former vice president al gore has just been sold to al-jazeera, the arab news channel, looking to expand here in the united states. it could boost from 5 million u.s. homes to 40 million. but time warner, which is the country's second-biggest cable company is...
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Dec 27, 2012
12/12
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once we go over the cliff, republicans are ready for a tax cut, not an increase. right now that's what the big challenge is. >> chip, is that the biggest strategy here, get to the third and pass the third, the new congress comes in, boehner danger doesn't exist anymore, his speakership stays in place and grover norquist gives a thumbs up to up? >> i don't think that was the strategy a week ago. i think the speaker was trying to put the deal together, as we've seen the senate not -- i think that may become the strategy. i've always thought they would wait until the last hour, put a band eight on it, but wait until the iii so they can vote for a tax cut makes sense as well. >> marjorie, there will be people on the left looking at this. this is basically a clean late. does the left look at this as a way for the president to stand firm in the fact that in one federal voice he was reelected on taxes going up. so is this going to be palatability to the left if the president is standing firm? >> absolutely. you've seen his numbers have increased since the election and al
once we go over the cliff, republicans are ready for a tax cut, not an increase. right now that's what the big challenge is. >> chip, is that the biggest strategy here, get to the third and pass the third, the new congress comes in, boehner danger doesn't exist anymore, his speakership stays in place and grover norquist gives a thumbs up to up? >> i don't think that was the strategy a week ago. i think the speaker was trying to put the deal together, as we've seen the senate not --...
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Dec 31, 2012
12/12
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the appropriations committee will honor the instructions of the budget committee as approved by the congress of the united states. we're on the program. we're on the same page. we're on the same glide path. we don't have to have showdowns here. so we have already cut actual dollars, an actual checkbook of $43 billion. that's a lot of money. and also we are in the budget control act to cut a trillion dollars over the next ten years. that would mean what was being discussed in simpson-bowles and so on. so we need to understand that. now, let's go to this across-the-board cut. i see on the floor the distinguished gentleman from arizona, a well-known advocate for a national security, well versed over the years in the compelling needs that our military needs to have to protect the nation. i'm sure he will speak to those needs, and i, too, will also, but i also want to speak about another dynamic which is the impact of $55 billion across the board in discretionary spending. what i want to say is this -- that if, in fact, we go ahead with this, we're going to cut defense, there's no doubt about it.
the appropriations committee will honor the instructions of the budget committee as approved by the congress of the united states. we're on the program. we're on the same page. we're on the same glide path. we don't have to have showdowns here. so we have already cut actual dollars, an actual checkbook of $43 billion. that's a lot of money. and also we are in the budget control act to cut a trillion dollars over the next ten years. that would mean what was being discussed in simpson-bowles and...
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Dec 31, 2012
12/12
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WETA
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congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people deserving far better and we will be scrambling to find budget reductions in we can understand. >> we are upon the fiscal cliff. will we need to focus on is how we find that common ground. ira by -- i believe republicans and democrats alike want to put us on the course to fiscal discipline. >> we are running at a time. americans are threatened with a tax hike in just few hours. i hope we can keep in mind that our single most important goal is to protect middle-class families. >> democrats and republicans in congress have to get this done but they are not there yet. they are closed but not there yet. one thing we can count on with respect to this congress is that if there is even one second left,
congress officials have said the house of representatives will not vote before midnight despite tense negotiations to get an agreement signed before midnight washington time. that will trigger a series of automatic spending cuts and tax hikes and could send the country back into recession. >> of america is staring into the economic unknown. there will be some real damage. there are some people deserving far better and we will be scrambling to find budget reductions in we can understand....
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Jan 2, 2013
01/13
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kicking the can on automatic spending cuts set to take effect two months from now. joining us, the chairman of the senate republican policy committee. welcome. thank you for being here a day after. we temporarily averted where we were going. in terms of this debate and the debt ceiling and sequester, do you anticipate us trying to do this at one time and debt ceiling? is there a grand bargain still to be had? >> there needs to be a focus on cutting spending. you're absolutely right when you talk about the secretary of treasury having some ability to move that debt ceiling final deadline debate this way or that way. bottom line, the president talked about the debt ceiling, said he's not going to argue with congress again over bills they've racked up, let me remind the president and viewers, those are bills related to his so-called stimulus package which spent a lot of money and i believe has been a failure and his health care law. i will tell you as a doctor it is unworkable and continues to be very unpopular and unaffordable. these are the president's bills. it's a
kicking the can on automatic spending cuts set to take effect two months from now. joining us, the chairman of the senate republican policy committee. welcome. thank you for being here a day after. we temporarily averted where we were going. in terms of this debate and the debt ceiling and sequester, do you anticipate us trying to do this at one time and debt ceiling? is there a grand bargain still to be had? >> there needs to be a focus on cutting spending. you're absolutely right when...
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Dec 28, 2012
12/12
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through a deeply divided congress. >> darren gersh. >> so, joe, how bad could that be? >> i had, susie. unfortunately, the economy has been gaining momentum, if you look at the labor market as well as housing making progress. but if we would see a fall from the fiscal cliff, it's not in our own estimates that those in the congressional budget office would be enough to impart a recession in the first half of 2013. i think still there's a 51% chance, if you ask me, that we avert the cliff but those are uncomfortablably low chances of success. >> we have seen some progress in the economy, in the housing sector, in the auto sector, in the job market. if we do go over the cliff, what happens to the progress that has been made in those sectors? and consumer spending spending d confidence as well? >> well, what i would most likely anticipate that would face the brunt of the cliff would be the investment, that has always been a volatile and and down section and we would see that in business and companies forestalling investment, cutting potentially jobs in some sectors and that
through a deeply divided congress. >> darren gersh. >> so, joe, how bad could that be? >> i had, susie. unfortunately, the economy has been gaining momentum, if you look at the labor market as well as housing making progress. but if we would see a fall from the fiscal cliff, it's not in our own estimates that those in the congressional budget office would be enough to impart a recession in the first half of 2013. i think still there's a 51% chance, if you ask me, that we avert...
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Jan 3, 2013
01/13
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with spending cuts. some gop members say they are on the fence with house speaker john boehner's bid to keep his title. just what two years ago they won without problems of their own. she is running in the house but carl's wife just passed away. some leaders will emerge with today's leadership votes meaning the same divide could exist in the coming year. more on that in my next update, carla campbell, ktvu channel 2 morning news. >>> two new members of congress will be sworn in today. 32-year-old eric defeated pete stark in november. and in marin county, a mother and in will be sworn -- another man will be sworn in after 22 years in office. >>> they intend the nhl lock out and in just a few hours, talks will resume to get hockey players back on the ice. >> you either have to build a bridge and on some we move toward etch ear and on some it taser we have to be let go. >> that season will begin and in order to gain week later, the pension place has -- pension plan has become a stumbling block. >>> shelters
with spending cuts. some gop members say they are on the fence with house speaker john boehner's bid to keep his title. just what two years ago they won without problems of their own. she is running in the house but carl's wife just passed away. some leaders will emerge with today's leadership votes meaning the same divide could exist in the coming year. more on that in my next update, carla campbell, ktvu channel 2 morning news. >>> two new members of congress will be sworn in today....
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shame on congress. it's absolutely disgraceful. >> reporter: the fight over sandy seems to have been resolved. the house will vote friday on hurricane relief. looming over the next several weeks, the possible default of the u.s. government, spending cuts that could imperil thousands of pentagon jobs and a possible government shutdown. the only way to prevent all of this is cooperation between republicans in congress and the white house. but john boehner will likely find it even harder to compromise with president obama again. there are only so many times you can defy the majority of your own party. for now, boehner's position as speaker is secure, in part because nobody has stepped forward to challenge him. it may be just at this point that nobody else really wants that job. >> i'll bet. and, jon, you mentioned, this debt limit, getting at the end of february. the speaker under tremendous pressure, as you said. but the president said he's not going to negotiate with the speaker. he simply wants the debt
shame on congress. it's absolutely disgraceful. >> reporter: the fight over sandy seems to have been resolved. the house will vote friday on hurricane relief. looming over the next several weeks, the possible default of the u.s. government, spending cuts that could imperil thousands of pentagon jobs and a possible government shutdown. the only way to prevent all of this is cooperation between republicans in congress and the white house. but john boehner will likely find it even harder to...
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Jan 3, 2013
01/13
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KICU
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it extends income tax cuts for the middle class, but allows the payroll tax holiday to expire. and only briefly did senators take up matters other than the fiscal cliff. while senators approved more than $60 billion in aid for victims of hurricane sandy, house leaders adjourned without taking action. it came after the fiscal cliff showdown in which middle class tax cuts were extended, but income taxes on individuals making $400,000 a year and married couples making $450,000 a year go up from 35% to 39.6%. itemized deductions were capped for individuals making $250,000 and $300,000 for married couples. "capital gains only went up 5%. i actually don't think it'll change anything much. it's pretty much business as usual." the payroll tax holiday was not extended. everyone who draws a paycheck will receive 2% less after taxes than they got last year. if you make $60,000 a year, that's about $100 a month. unemployment insurance was extended for a year, affecting two million americans. "american people are still looking for work. it's picked up, but not enough." "i'm not sure that's
it extends income tax cuts for the middle class, but allows the payroll tax holiday to expire. and only briefly did senators take up matters other than the fiscal cliff. while senators approved more than $60 billion in aid for victims of hurricane sandy, house leaders adjourned without taking action. it came after the fiscal cliff showdown in which middle class tax cuts were extended, but income taxes on individuals making $400,000 a year and married couples making $450,000 a year go up from...
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Dec 28, 2012
12/12
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just four days left before taxes go up for all americans and federal programs see major cuts. we've shown you the math here. the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room a short time ago. let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington. after meeting with congressional leaders here at the white house, the president pronounced himself modestly optimistic that a bipartisan agreement can finally be struck that would prevent taxes from going up on virtually everybody in just four days. >> reporter: after meeting with the congressional leaders, the president said there would be one more effort to come to a bipartisan agreement to avoid the fiscal cliff. >> the hour for immediate action is here. it is now. and the american people are not going to have any patience for a politically, self-inflicted wound to our economy. >> reporter:
just four days left before taxes go up for all americans and federal programs see major cuts. we've shown you the math here. the average american household would see their tax bill go up nearly $3,500. this evening, president obama telling congress, the american people are watching what we're doing here. he appeared in the briefing room a short time ago. let's go right to jon carl tonight. good evening. >> reporter: good evening, david. there are finally signs of life here in washington....
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Dec 28, 2012
12/12
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also wants to extend unemployment benefits for 2 million people and delay $110 billion in sequester cuts and that is a story we'll follow all weekend long. back to you in the studio. >> and thank you very much. >>> essentially, we remain in a stalemate tonight and congress returned yesterday to the senate, the house will be back on monday and they have three days to work it out. >>> and turning our attention to the other big story to the day. snow coming to the d.c. area and should start to see the white stuff coming overnight. gary mcgrady is joining us now. how much can we expect? >> reporter: not a lot. pardon me, tom. but we will have a little bit coming on across and looks like an accumulation here in the city. first of all, i want to assure you that this is not a big storm and it's not going have a great impact o cross the area now. and the in fact that it's coming on a saturday is going to be, help us quite a bit, you know. you don't necessarily have to get out. most of us don't with minimal commuting to be done. the snow is arriving for everyone before sunrise. it's going to be b
also wants to extend unemployment benefits for 2 million people and delay $110 billion in sequester cuts and that is a story we'll follow all weekend long. back to you in the studio. >> and thank you very much. >>> essentially, we remain in a stalemate tonight and congress returned yesterday to the senate, the house will be back on monday and they have three days to work it out. >>> and turning our attention to the other big story to the day. snow coming to the d.c. area...
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Dec 26, 2012
12/12
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FOXNEWSW
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obama and congress can not agree on a stopgap measure, automatic hikes and spending cuts will hit americans jan 1. peter doocy live in washington with more on this peter, what is the latest? >> reporter: gregg, the president said on friday he would see it this week and maybe if lawmakers went back to home districts to drink eggnog and eat cookies and sing christmas carols maybe they would be more in touch with the hardship so many americans are going to face if the fiscal cliff is not avoided. >> there is a mismatch right now between how everybody else is thinking about these problems. democrats and republicans, outside of this town and how folks are operating here and we've just got to get that aligned. >> reporter: the president's wife and daughters are going to stay in hawaii to continue vacationing. we're told the president may rejoin them or he may not. it all depends on how negotiations progress in the next few days. gregg: well, you know what, peter? there's not lost love between boehner and president obama. are they going to meet? >> reporter: they might, gregg. the speaker is expec
obama and congress can not agree on a stopgap measure, automatic hikes and spending cuts will hit americans jan 1. peter doocy live in washington with more on this peter, what is the latest? >> reporter: gregg, the president said on friday he would see it this week and maybe if lawmakers went back to home districts to drink eggnog and eat cookies and sing christmas carols maybe they would be more in touch with the hardship so many americans are going to face if the fiscal cliff is not...
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rating could be cut. >> and avis is buying zip card for half a billion looking to grow their business with new technology. the smartphone yaps will get cars around cities and college campus. [ woman ] ring. ring. progresso. your new light creamy potato with bacon & cheese soup says it's 100 calories a serving. that's right. in what world do potatoes, bacon and cheese add up to 100 calories? your world. my world. ♪ [ whispers ] real bacon...creamy cheese... [ whispers ] 100 calories... say it again... [ whispers ] 100 calories... ma'am, hello? ma'am? [ female announcer ] find progresso light for a great price today at your local safeway store. delicious. but say i press a few out flat... add some beef sloppy joe sauce... and cheese fold it all up and boom! i just made an unbeatable unsloppy joe pillsbury grands biscuits. let the making begin. that's been wrapped in a flaky crust stuffed with a gooey center toasted up all golden brown then given a delicious design? a toaster strudel. pillsbury toaster strudel. so delicious...so fun. >> petaluma, and all the bay area, this is abc7 news
rating could be cut. >> and avis is buying zip card for half a billion looking to grow their business with new technology. the smartphone yaps will get cars around cities and college campus. [ woman ] ring. ring. progresso. your new light creamy potato with bacon & cheese soup says it's 100 calories a serving. that's right. in what world do potatoes, bacon and cheese add up to 100 calories? your world. my world. ♪ [ whispers ] real bacon...creamy cheese... [ whispers ] 100...
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Jan 3, 2013
01/13
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WTTG
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ii. >> and with this new congress, they will face some big battle ahead. they will need to deal with debates over massive spending cuts. >> one of the first items on their list is tackling aid relief for superstorm sandy victims. it is a bill that many thought would have been dealt with already and its delay has created an uproar. shannon breen has the story. >> it is the most disgraceful action i've seen in this house in the 20 years i've been here. >> this is a disaster on top of a disaster. >> reporter: house republicans who oppose quick passage of the sandy aid bill are getting blasted from both sides of the aisle. but lawmakers like california's darryl issa say they were never going to vote for a bill they say is full of all kinds of pet projects that have nothing to do with those devastated by the superstorm. >> the fact is the senate didn't do their job. they sent us a bunch of pork and left town. that was just wrong. >> reporter: critics of the $60 billion senate bill which would be broken no two separate house votes, a $27 billion prime bail and a
ii. >> and with this new congress, they will face some big battle ahead. they will need to deal with debates over massive spending cuts. >> one of the first items on their list is tackling aid relief for superstorm sandy victims. it is a bill that many thought would have been dealt with already and its delay has created an uproar. shannon breen has the story. >> it is the most disgraceful action i've seen in this house in the 20 years i've been here. >> this is a...
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Jan 1, 2013
01/13
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eerie time we raise that capitol gains tax total revenues for capitol gains go down because people cut back investments which hurts the entire economy. what say you? >> this is about the art of compromise. when congress waits until the last minute to address a bill here we are january 1st and they are addressing a bill that expired last night. >> you mentioned the debt kreeging we hit it yesterday. we had security measures in effect. that will put it off for two months. but then we will be right back here at the bargaining table. our credit rating dropped the last time we had this debt ceiling debate. is the >> no question we will be back in two months having this discussion. credit rating is in trouble. congress has to look at the spending side. the bill does nothing for spendi spendispend. that matters to americans because it effects every sij american by having a higher interest rate. it's very important. both sides were together cooperating and finding a way to cut spending. >>> thank you soichl. so much. >> thank you. happy new year. >> 48 after the hour with the new year come a s
eerie time we raise that capitol gains tax total revenues for capitol gains go down because people cut back investments which hurts the entire economy. what say you? >> this is about the art of compromise. when congress waits until the last minute to address a bill here we are january 1st and they are addressing a bill that expired last night. >> you mentioned the debt kreeging we hit it yesterday. we had security measures in effect. that will put it off for two months. but then we...
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Dec 30, 2012
12/12
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rests right here with us in congress. o.m.b.'s decision with be overridden by a joint resolution. every provision of the calm act o the senate. in fact, at one time or another, nearly every feature of this plan has been offered by both republicans and democrats, including president obama and speaker boehner. all i've done is pull them together to offer them has a compassionate alternative to what happens if we go over the fiscal cliff. true, from the very beginning i have favored a comprehensive solution to put our fiscal house in orderings something along the lines of the simpson-bowles. we don't have that luxury right now. but perhaps it will only soften the blow of the fiscal cliff but also give us a sense of urgency about a grand bargain to repair our financial house. i am not so naive as to believe everybody is going to check their politics at the door, even at this late hour, but this is not a time for politicking, bickering or partisan games. to allow the country to plunge over the fiscal cliff without any alternat
rests right here with us in congress. o.m.b.'s decision with be overridden by a joint resolution. every provision of the calm act o the senate. in fact, at one time or another, nearly every feature of this plan has been offered by both republicans and democrats, including president obama and speaker boehner. all i've done is pull them together to offer them has a compassionate alternative to what happens if we go over the fiscal cliff. true, from the very beginning i have favored a...
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Dec 27, 2012
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congress. they have until next week to get it done before people will start to feel the pain in their paychecks. that's all of us. molly henneberg with the news now live from washington. molly? >> harris, as you were saying taxes are going up for almost everyone immediately if we go over the fiscal cliff. it likely will take a toll on already stretched family bench. take a look at the numbers from the tax policy center. for those whose taxes do go up this is the average tax hit family also take on top of what they already pay in taxes. below 10,000 they will pay an average of about $300 more. look down the chart a bit. those who make between 40 and 50,000 they will have to pay an extra $1,700 more. looking at the next set of numbers for wage earners, 50 to 75,000. they will have to find an extra $2,300 to send to washington. and if you managed to make over $200,000, if you go over that income mark, it will be a big jump up. you have to send a check to uncle sam for, on average, about 14,000 add
congress. they have until next week to get it done before people will start to feel the pain in their paychecks. that's all of us. molly henneberg with the news now live from washington. molly? >> harris, as you were saying taxes are going up for almost everyone immediately if we go over the fiscal cliff. it likely will take a toll on already stretched family bench. take a look at the numbers from the tax policy center. for those whose taxes do go up this is the average tax hit family...